Blink Charging (NASDAQ:BLNK) Receives New Coverage from Analysts at Benchmark

Research analysts at Benchmark assumed coverage on shares of Blink Charging (NASDAQ:BLNK) in a note issued to investors on Wednesday, MarketBeat.com reports. The firm set a “buy” rating and a $5.00 price target on the stock. Benchmark’s price objective points to a potential upside of 63.40% from the stock’s previous close.

Several other research firms have also recently weighed in on BLNK. Needham & Company LLC dropped their price objective on Blink Charging from $7.00 to $5.00 and set a “buy” rating for the company in a report on Friday, May 10th. Stifel Nicolaus reiterated a “hold” rating and issued a $4.00 price objective on shares of Blink Charging in a report on Thursday, May 16th. UBS Group dropped their price objective on Blink Charging from $7.00 to $4.50 and set a “buy” rating for the company in a report on Tuesday, May 21st. Finally, B. Riley upgraded Blink Charging to a “hold” rating in a report on Tuesday, June 25th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Blink Charging currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.21.

Blink Charging Price Performance

Shares of BLNK stock opened at $3.06 on Wednesday. The stock has a market capitalization of $309.24 million, a PE ratio of -1.07 and a beta of 2.73. Blink Charging has a 1-year low of $2.18 and a 1-year high of $7.25. The business has a 50-day moving average of $3.08 and a 200 day moving average of $2.89.

Blink Charging (NASDAQ:BLNK) last issued its earnings results on Thursday, May 9th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.10. The company had revenue of $37.57 million during the quarter, compared to analysts’ expectations of $33.74 million. Blink Charging had a negative return on equity of 25.12% and a negative net margin of 122.09%. Analysts anticipate that Blink Charging will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Rhumbline Advisers raised its position in shares of Blink Charging by 70.5% in the 2nd quarter. Rhumbline Advisers now owns 133,055 shares of the company’s stock worth $365,000 after acquiring an additional 55,014 shares in the last quarter. BCGM Wealth Management LLC bought a new position in shares of Blink Charging in the 2nd quarter worth approximately $27,000. Principal Financial Group Inc. bought a new position in Blink Charging during the 2nd quarter valued at approximately $30,000. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Blink Charging during the 2nd quarter valued at approximately $843,000. Finally, Bank of New York Mellon Corp increased its position in Blink Charging by 108.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 403,952 shares of the company’s stock valued at $1,107,000 after buying an additional 210,116 shares in the last quarter. Institutional investors own 44.64% of the company’s stock.

About Blink Charging

Blink Charging Co, through its subsidiaries, owns, operates, manufactures, and provides electric vehicle (EV) charging equipment and networked EV charging services in the United States and internationally. The company offers residential and commercial EV charging equipment that enable EV drivers to recharge at various location types.